November 30, 2022
Types of International Trade Strategies
Let’s see what some of the most common types of international trade strategies are and how ATI can help you create one.
Living in a global market means that you can find goods all over the world in your local stores. This also applies to food. In fact, food exports play a significant role in the world economy. US food exports, for example, were valued at $140 billion in 2018, and that's a 3.6% increase compared to 2017. And when it comes to imports, the US imported $127.8 billion worth of food and beverages in 2018.
So, what are the most exported food products in the world?
There is a lot of food and beverage being exported worldwide daily. Below, we'll discuss each of the most exported ones.
Fish is one of the world's most common and oldest food sources, and it's packed with protein and omega-3 fatty acids, making it a nutritious choice for people of all ages. Fish is also a versatile ingredient that can be used in a variety of dishes.
According to the Food and Agriculture Organization of the United Nations (FAO), fish is the second most traded food commodity in the world after cereals. In 2016, the global fish trade was valued at $148.8 billion.
The top five exporting countries of fish are China, Norway, Chile, Vietnam, and Thailand. These five countries account for almost 50% of the world's fish exports.
Soybeans are a type of legume that originated in East Asia. They're a popular food source in many parts of the world, especially in Asia. Soybeans are a good source of protein and contain all the essential amino acids our bodies need.
They can be used to make various food products, such as soy milk, tofu, and soy sauce. Soybeans are also used as an ingredient in animal feed.
The global trade value of soybeans was $39.7 billion in 2016. The top five exporting countries of soybeans are the United States, Brazil, Argentina, Canada, and Paraguay.
Wheat is a type of cereal grain that's widely cultivated around the world. It's a major food source for people in many parts of the world, especially in Asia and Africa. Wheat is a good source of carbohydrates and dietary fiber.
Bread, pasta, pastry, and breakfast cereals are some of the most common food products made from wheat. According to the The Observatory of Economic Complexity, wheat represents 0.31% of total world trade and made up $51.4 billion in 2020.
Palm oil is a type of vegetable oil extracted from palm trees' fruit. It's a popular cooking oil in many parts of the world, especially in Africa and Southeast Asia. Palm oil is also used in the production of biodiesel. These uses make it very valuable, so it's no wonder that palm oil is one of the most traded vegetable oils in the world.
Nigeria, Indonesia, and Malaysia are the world's top three palm oil-producing countries, which also export the most palm oil.
Palm oil shipments increased by 13.7% between 2019 and 2020, from $30 billion to $34.1 billion. Palm oil trade makes for 0.2% of global trade.
We're all familiar with beef as it's a common ingredient in many dishes, such as burgers, steak, and stew. Beef is a good source of protein, iron, and zinc and is also an excellent source of vitamins B6 and B12.
Exports of beef and beef-related meat reached a record 1.44 million metric tons in value in 2021, and the value of US beef exports was a record $407.22 average per animal. In fact, 15% of the beef in the US was exported.
Soybean meal is a type of animal feed that's made from soybeans. It's a popular choice for livestock feed as it's a good source of protein. The livestock industry is the largest buyer of soybean meal, as animals also need to eat.
In 2020, the top exporters of soybeans were Brazil ($28.6B), United States ($25.6B), Argentina ($2.31B), Paraguay ($2.15B), and Canada ($1.95B).
Corn is a type of cereal grain that's widely cultivated around the world. It's a major food source for people in many parts of the world, especially in North America and South America. Corn is a good source of carbohydrates and dietary fiber.
There are many different ways to use corn, such as in the production of corn oil, corn syrup, and ethanol. Corn is also used as an ingredient in animal feed.
The United States is the largest corn exporter in the world. In 2021, the US exported $18.63B of corn, 20% higher than 2020. This significant increase was caused by both China's execution of the Phase One Agreement and the country's strong demand.
Broiler meat is a type of poultry that's typically used for meat production. The most common type of broiler chicken is the Cobb chicken. Broiler chickens are bred to grow rapidly and have large breast muscles.
As the demand for chicken meat is high, broiler meat is one of the most traded poultry products in the world. The top five exporting countries of broiler meat are the United States, Brazil, Thailand, the Netherlands, and Germany.
The 146th most traded product in the world is poultry. Brazil ($5.59B), the United States ($3.93B), Poland ($2.61B), the Netherlands ($2.36B), and Thailand ($921M) were the largest exporters of poultry in 2020.
Rice is a type of cereal grain that's widely cultivated around the world. It's a major food source for people in many parts of the world, especially in Asia, and rice is a good source of carbohydrates and dietary fiber.
There are many different types of rice, such as white rice, brown rice, and Basmati rice. Rice is used in many dishes, such as sushi, risotto, and paella.
In 2021/2022, rice exports from India were the largest in the world at 18.75 million metric tons, almost 653 billion India rupees.
Coffee is a type of brewed drink that's made from roasted coffee beans. It's a popular beverage worldwide, and many people start their day with a cup of coffee.
Coffee is grown in many parts of the world, such as South America, Africa, and Southeast Asia. The coffee beans are then exported to other countries where they're roasted and ground. The top five exporting countries of coffee are Brazil, Vietnam, Colombia, Indonesia, and Ethiopia.
Coffee ranked as the 112th most traded good in the world in 2020, totaling $30.8 billion in trade. Coffee exports increased by 2.9% during 2019 and 2020, from $29.9 billion to $30.8 billion. Coffee commerce accounts for 0.18% of global trade. Currently, Brazil is the largest coffee exporter.
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